Bitcoin News Today: Galaxy Digital Shifts $447M BTC to Exchanges Fueling Sell-Off Speculation Amid 0.48% Price Drop

Galaxy Digital has moved an additional $447 million worth of Bitcoin (BTC) through its wallets, raising speculation about potential further liquidation of its holdings. The firm transferred 3,782 BTC—valued at current prices—to exchanges, following a massive $9 billion sale of 80,000 BTC earlier this week for a Satoshi-era investor, as confirmed in a press release [1]. The recent transaction aligns with a pattern of large-scale disposals, with Galaxy still holding over 18,000 BTC, including approximately 12,000 BTC in dormant whale wallets [1]. While the company has not publicly commented on the latest moves, analysts note the proximity of these transactions to prior sales suggests a continued strategy of managing its Bitcoin portfolio, possibly tied to broader estate planning or liquidity needs.

The method of sale appears designed to minimize market impact. The prior $9 billion transaction was executed through a mix of over-the-counter (OTC) deals and secondary market trades, a tactic that softens price pressure by distributing the volume over time [1]. However, the fresh $447 million transfer—directly to exchanges—could signal a shift in approach or urgency, depending on how quickly the assets are converted to fiat. Despite these movements, Bitcoin’s price has remained relatively stable, currently trading at $118,944, a modest 0.48% decline from the previous 24-hour period [1]. This resilience is partly attributed to renewed inflows into Bitcoin ETFs, which added $157 million in the latest session, according to SoSoValue data [1]. The influx has helped absorb selling pressure, though the cryptocurrency remains 3.3% below its all-time high and has shown limited directional movement this week.

The firm’s activities highlight the delicate balance between institutional liquidity management and market stability. Galaxy’s initial $9 billion sale, one of the largest Bitcoin transactions ever recorded, was described as part of an estate planning strategy for a Satoshi-era investor [1]. The recent $447 million transfer, while smaller in scale, raises questions about whether the firm is completing this exit or preparing for additional rounds. With over 18,000 BTC still in its control, the potential for further sales looms, particularly if broader market conditions or portfolio rebalancing requirements dictate.

Market participants are closely monitoring the situation, given the implications for Bitcoin’s price trajectory. While ETF inflows and institutional buying have provided a buffer, the risk of renewed volatility persists if large-scale sales continue. The current trajectory underscores the interplay between major institutional players and broader market dynamics, with Galaxy’s actions serving as a barometer for larger trends in the crypto ecosystem.

Sources:

[1] Galaxy Digital shuffles additional $447 million in BTC, more sell off looming? (https://coinmarketcap.com/community/articles/68888a00fb184a125f70cfbe/)